SapuraKENCANA PETROLEUM BHD [] (SKPB) announced it has won an award worth US$2.7 billion (about RM8.6 billion) from Brazil’s Petroleo Brasileiro (Petrobras) to build, charter and operate three more deepwater flexible pipe laying support vessels (PLSVs) for eight years.

The new contract was awarded to SapuraKencana’s associate company, Sapura Nevegacao Maritima S.A. Brazil (SNM), said a statement from SKPB.

The three new PLSVs will be built outside Brazil. And SNM has been contracted to charter and operate the new vessels for a period of 8 years, with an extension option for an additional 8 years.

The PLSVs are due to be delivered for operation from around the second quarter of 2016, and revenue from the award is expected to be generated from then, SapuraKencana said. The award is expected to contribute to the group’s net assets and future earnings, said the company.

Axiata Group Bhd has failed in its bid to win a telecommunications license to operate in Myanmar.

Norway's Telenor and Qatar's Ooredoo have been awarded telecommunications licences for Myanmar, the government said on Thursday, after a tender that will bring foreign companies into the sector for the first time, according to a Reuter report.

Presidential spokesman Ye Htut announced the results in a statement on his Facebook page.

The operators will roll out networks in a country that analysts say has the lowest mobile phone usage in the world, with only 4 to 9 percent of its 60 million people connected.

The government has said it will finalise the 15-year licences by September and operators will need to launch services within nine months. They will have to provide voice services across three-quarters of the country within five years and data services across half of it.

SELANGOR PROPERTIES BHD [] said it posted a net profit of RM6.8 million for its second quarter to end-April 2013, down 39.5% from previous year’s similar quarter of RM11.3 million.

However, its turnover for the quarter rose slightly to RM60.7 million from RM59.3 million.

On outlook, the company said its property investment and education sectors are expected to remain stable and will continue to contribute to the group.

The group expects its operation in Malaysia and Australia to remain positive. However, its profitability will be subject to currency fluctuations.

SP SETIA BHD [] recorded a net profit of RM95.8 million for its second quarter ended April 30, 2013 (FY13), 3.6% higher than the RM92.4 million posted in the previous corresponding quarter.

The group said the increase was mainly due to “the change in product mix, with a larger percentage of profits now contributed by sales of high rise developments as compared to landed properties.”

Revenue was 15.2% higher at RM711.3 million, compared to revenue of RM617.2 million in 2QFY12.

The group said it achieved RM1.6 billion in sales during 2QFY13, bringing the total group sales for the current financial period to RM4.4 billion.

Looking ahead, the group said it is well on track to achieve its RM5.5 billion sales target for the year.

ENCORP BHD [], through its subsidiary Encorp Construct Sdn Bhd, has secured a RM69.9mil CONSTRUCTION [] contract from NRY Architects Sdn Bhd for the main contract works for a 30-storey serviced apartment at Jalan Raja Chulan, Kuala Lumpur.

The company said the contract is for 27 months from June 28 to Sept 27, 2015.

“The award of the main contract is expected to contribute positively to the earnings and net assets of Encorp group for the financial years during the main contract period,” it said.

If the announcement is made tomorrow, investors may react to the news.

The company incurred a loss of RM2.3 million on turnover of 32.8 million in the first quarter of this year.

It was last traded at RM1.49 per share, up one sen. This compares with its net assets per share of RM2.15.

BIOSIS GROUP BHD [] has triggered the criteria pursuant to Practice Note No. 17 (PN17) of the Main Market Listing Requirements of Bursa Securities, Busa Malaysia said today.

The PN17 criteria was triggered after the company’s latest unaudited accounts for the financial year ended 31 March 2013 showed that its shareholders’ equity on a consolidated basis was 50% or less of the issued and paid-up capital.

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